A company runs a Java-based job on an Amazon EC2 instance.

AWS Lambda is a serverless compute service that allows you to run code without provisioning or managing servers. You can create Lambda functions using various languages, including Java, and specify the amount of memory and CPU allocated to your function. Lambda charges you only for the compute time you consume, which is calculated based on the number of requests and the duration of your code execution. You can use Amazon EventBridge to trigger your Lambda function on a schedule, such as every hour, using cron or rate expressions. This solution will optimize the costs to run the job, as you will not payfor any idle time or unused resources, unlike running the job on an EC2 instance. References: 1: AWS Lambda - FAQs2, General Information section2: Tutorial:Schedule AWS Lambda functions using EventBridge3, Introduction section3: Schedule expressions using rate or cron - AWS Lambda4, Introduction section.